5 Characteristics a Senior Executive Must Possess to Assume P & L Responsibility
Profit and Loss (P & L) responsibility is one of the most important responsibilities of any executive position. Having P & L responsibility involves monitoring the net income after expenses for a department or entire organization, with direct influence on how company resources are allocated. Those with P & L responsibility often give final approval for new projects and are required to find ways to cut budget expenditure and ensure every program is generating a positive ROI.
https://www.bluesteps.com/blog/5-Characteristics-a-Senior-Ex...

the general manager is responsible for all areas. Sometimes, most commonly, the term general manager refers to any executive who has overall responsibility for managing both the revenue and cost elements of a company's income statement. This is often referred to as profit & loss (P&L) responsibility. This means that a general manager usually oversees most or all of the firm's marketing and sales functions as well as the day-to-day operations of the business.
http://www.answers.com/topic/general-manager-2

For your Board of Directors you need folks who are actual business people. A business person is one who has held profit-and-loss responsibility ("P&L" on their resume). P&L responsibility means that the person was in a position to determine the total profit earned by a company or a division and received compensation based on that profit, not based on what his or her manager thought.
http://philip.greenspun.com/business/startup-tips/

For me it's Aude's Profit & Loss.